50 cent may have filed for bankruptcy but he is far from broke…or at least not yet.
50 cent is not stupid. After being raised by his grandmother in the tough New York neighborhood of South Jamacia Queens with nine other kids, Curtis Jackson, whose mother was murdered and father simply vanished, started selling crack at age 12 simply to make ends meet. After several chart topping songs, albums, and an a deal with Vitaminwater, 50 cent made $100 million. Making him one of the richest rappers in the entertainment industry.
However, last week a Manhattan jury reportedly ordered Curtis Jackson to shell out $5 million to Lastonia Leviston, whose sex-tape he uploaded to the internet without her permission after adding his very own commentary to the video. Ultimately, Leviston sued him for an invasion of privacy.
But, why did he he lose $5 million dollars? Well, it all started from a 13 minute video that slipped onto the Internet back in 2009, and featured 50 cent in a wig pretending to be a character named Pimpin’ Curly.
Curly would go on to make some pretty explicit videos regarding Leviston. Curtis Jackson managed to get his hands on the video after the boyfriend gave him a copy, citing that Leviston apparently wouldn’t mind it getting uploaded.
Fast forward 6 years, Curtis Jackson filed for Chapter 11 protection in the U.S. Bankruptcy Court in Hartford, Connecticut. But, does that mean 50 cent is broke? Technically, yes. If a business isn’t able to service its debt or pay their creditors, filing for protection under Chapter 11 means 50 cent can still retain control of his business but he will be forced to reshuffle his finances.
50 Cent is far from broke and if his rapping career never takes off, he still has acting. 50 Cent will appear alongside Jake Gyllenhaal in the upcoming boxing movie ‘Southpaw’.
What do you think of 50 cent? Do you think he is going to end up broke? Share with us your thoughts in the comments below!
